Sonata Software - Consolidated Q2 FY17 International Services Revenues at Rs.209 Crores growth of 23% YoY and 7% QoQ; Board declared an interim dividend of Rs.3.50 per share at its meeting held on November 02, 2016
Mumbai, November 02, 2016
Sonata Software, a global IT services and technology solutions company, today reported its unaudited financial results for its 2nd quarter ended 30th September, 2016.
Speaking on the results Mr. Srikar Reddy, Managing Director & CEO of the Company said “Though our profits are down marginally YOY due to forex and additional investment in IP development, we are pleased with our growth in International Services and this is a result of our IP led strategy to drive digital transformation in our verticals of Travel, Retail, Distribution and ISVs.”
Performance Highlights for the quarter:
Consolidated:
⦁ Revenues at Rs 522Crores
⦁ EBIDTA at Rs 59 Crores: growth of 1% QoQ;
⦁ PAT at Rs 38 Crores : growth of 3% QoQ;
⦁ Cash and equivalents of approximately Rs 132 Crores (net of borrowings).
International IT Services:
⦁ Revenues at Rs 209 crores : growth of 7%QoQ;
⦁ EBIDTA at Rs 45 Crores: growth of 3% QoQ;
⦁ PAT at Rs 30 Crores : growth of 6% QoQ;
Domestic Products & Services :
⦁ Revenues at Rs 317 crores : decline of 35% QoQ:
⦁ EBIDTA at Rs 14 Crores: decline of 7% QoQ:
⦁ PAT at Rs 8 Crores : decline of 7% QoQ;
About Sonata Software
Sonata Software is a global IT solutions firm focused on catalysing business transformation initiatives of its clients through deep domain knowledge, technology expertise and customer commitment. The company delivers strategic technology solutions for Travel, Retail & Distribution and Software Product companies to drive enhanced customer engagement, operations efficiency and return on IT investments. Sonata brings its own proprietary platforms, products and services in digital technology areas such as Omni-channel commerce, Mobility, Analytics, Cloud and ERP to enable speed and reliability of IT led innovation. A trusted long-term service provider to Fortune 500 companies across both the software product development and enterprise business segments, Sonata seeks to add differentiated value to leadership to those who want to make an impact on their businesses, with IT.